Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Average Recommendation of “Hold” from Analysts

Rivian Automotive, Inc. (NASDAQ:RIVN) has been given a consensus rating of “Hold” by the twenty-five brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.87.

Several research firms have weighed in on RIVN. Truist Financial boosted their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Needham & Company LLC boosted their target price on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Piper Sandler lowered their target price on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada lowered their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, Wells Fargo & Company boosted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,784,877.65. This represents a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,357 shares of company stock worth $3,988,140 in the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Rivian Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gould Capital LLC lifted its holdings in Rivian Automotive by 87.6% in the 4th quarter. Gould Capital LLC now owns 7,025 shares of the electric vehicle automaker’s stock valued at $93,000 after acquiring an additional 3,280 shares during the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new stake in Rivian Automotive in the 4th quarter valued at about $206,000. Neo Ivy Capital Management lifted its holdings in Rivian Automotive by 23.8% in the 4th quarter. Neo Ivy Capital Management now owns 157,704 shares of the electric vehicle automaker’s stock valued at $2,097,000 after acquiring an additional 30,300 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Rivian Automotive during the 4th quarter worth about $34,000. Finally, Elequin Capital LP purchased a new stake in Rivian Automotive during the fourth quarter valued at about $49,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Trading Up 2.1 %

RIVN opened at $11.84 on Friday. The stock has a market capitalization of $12.08 billion, a PE ratio of -2.51 and a beta of 2.04. The firm’s fifty day moving average price is $13.32 and its 200 day moving average price is $12.44. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive has a 12-month low of $8.26 and a 12-month high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, research analysts expect that Rivian Automotive will post -3.2 EPS for the current fiscal year.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.